All articles by Katherine Gregory
Katherine Gregory
Crisis: a heady mix of danger and opportunity
A much more perturbed mood surrounds the release of financial results this February compared with last year; but it seems analysts, banks and financiers alike can breathe a sigh of relief as losses seemed to be less than expected For example, while Barclays reported a £1.6bn hit from the credit crunch, the write-down was less than feared, at just £300 million more than the £1.3 billion already announced last November
Romanian leasing to represent 5% of country economy
Romanian leasing to represent 5% of country economy Leasing in Romania will comprise 5 per cent of its GDP this year according to the Romanian Leasing Association, which is above Leaseuropes prediction of average penetration rates across Europe
Leasing and factoring at centre stage of ABN AMRO buyout
Leasing and factoring at centre stage of ABN AMRO buyout While the leasing businesses of Fortis and ABN AMRO overlap, they do so to a lesser extent than other parts of the two banks
A rough science
A rough science Credit risk managers in vendor finance have a hard time, harder perhaps than their asset finance colleagues
Strong but demanding
Strong but demanding Demand for lessors among print machine operators remains strong However, to remain competitive lessors must offer low rates and be able to cope with the impact of improved technology. Although the European print machinery sector is experiencing tighter liquidity, oversupply of capacity and competition from internet-based technology, the financiers of this sector still broadly find it a lucrative industry to be in.
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Sale of Global EPP assets imminent
PricewaterhouseCoopers is close to completing the sale of collapsed plastics moving manufacturer, Global EPP, which may help 51 leasing creditors recover a collective loss of some £70m, a lawyer source close to the case said.
Country Results
While growth continues, overall there are expectations of a slowdown, as these year end 2007 results from five European countries reveal
Sony offloads financial services arm
Sony offloads financial services arm Despite the volatile and fragile global credit markets, Sony, the consumer and electronics group sold off almost half of its financial services arm for a public offering of $3bn last month – Japans largest IPO this year The flotation of Sony Financial Holdings – which includes Sony Life Insurance, Sony Assurance and Sony Bank, the financial services provider that also offers leasing – is part of Sony Corps strategy to refocus on its core electronics business
Banca Italease still shaky
The Italian bank and leasing firm, which was badly hit by derivative losses in the credit crunch last July, may have to restart its 2006 leasing and factoring accounts, after an Italian financial daily reported that stock regulator Consob may consider asking Italease for an account restating.
SME moves out of sub-prime market
SME moves out of sub-prime market Turmoil in the credit market is permeating far and wide, even into the niche SME lending sector Specialist SME lessor, 1pm posted an annual loss of £330,907 for the first quarter of 2007 and exited the sub-prime loans market where it had been active in since 1998, to concentrate on funding small-ticket leasing deals The Bath based firm floated on AIM in August 2006, but in February the company realised it needed extra borrowing to meet demand, and forecasted lower revenues and profits for 2007